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Wolf Haldenstein Adler Freeman & Herz LLP Commences Class Action Lawsuit On Behalf Of Achillion Pharmaceuticals Inc. Investors


Thursday, 24 Oct 2013 04:12pm EDT 

Wolf Haldenstein Adler Freeman & Herz LLP announced that a class action lawsuit has been filed in the United States District Court, District of Connecticut, on behalf of all persons who purchased or otherwise acquired common stock of Achillion Pharmaceuticals, Inc. (Achillion or the Company) (NASDAQ GS:ACHN) between August 8, 2012 and September 30, 2013, inclusive (the Class Period), against the Company and certain of the Company`s officers (Defendants). The Complaint alleges that during the Class Period, Achillion engaged in a fraudulent scheme to artificially inflate the Company`s stock price by disseminating materially false and misleading statements concerning its clinical trials of the drug sovaprevir. The Company falsely represented that sovaprevir, one of the protease inhibitor compounds in its portfolio of oral treatments for the hepatitis C virus, was well-tolerated and had a low potential for drug-drug interactions. Indeed, Achillion touted the results of its clinical tests even though, in July 2013, the United States Food and Drug Administration ("FDA") placed a clinical hold on sovaprevir after elevations in liver enzymes were noted in a phase 1 interaction study. 

Company Quote

11.5
-0.45 -3.77%
19 Sep 2014